News & Events
UAE-based payments and foreign exchange firm Finablr, the parent company of UAE Exchange, will launch an initial public offering (IPO) next month, its founder and chairman said. "The Finablr IPO will happen in March and it will be listed on the London bourse. However, we don't know the size of the IPO. We expect a very good response because we have a very good track record," B.R. Shetty said on the sidelines of a conference in Dubai.
An additional 13 acres of land has been donated towards setting up parking facilities for the upcoming BAPS Hindu temple in Abu Dhabi, announced Pujya Brahmaviharidas, principal in-charge of the construction of the Hindu mandir. The Government of Abu Dhabi has also identified an additional 10 acres for a period of four years to stage pre-construction activities such as storage of building materials. The temple will be constructed on 13.5 acres of land, donated by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
With just eight dollars (Dh29) in his pocket, a dream to succeed and his mother’s blessings, Dr. B.R. Shetty first set foot in Abu Dhabi on May 3 ,1973. Many people know him, but for those who don't, Dr. Shetty is the founder and chairman of New Medical Centre (NMC), as well as the ubiquitous UAE Exchange, Finablr, Neopharma and BRS Ventures. He is a multi-billionaire non-resident Indian (NRI) who has dedicated a large part of his life building an empire of healthcare facilities and other companies in the country.
Dr. B. R. Shetty recounting his unforgettable meeting with the founding father of the UAE.
Dr. BR Shetty has been featured in the latest edition of the Arabian Business magazine. The cover story called ‘Stars of 2018’ features individuals who created waves in the Arab world in 2018.
For the very first time Fortune Magazine has come out with a special feature on the most successful NRI’s from the UAE in its Fortune 500 edition. This is the most awaited issue for the year. This list includes exciting and inspiring stories, mostly rags to riches, of NRIs rise to fame with some finding entry into the exclusive Billionaires List of reputed international publications. Dr. B. R. Shetty has been featured here amongst other icons of UAE like Yousuf Ali, Dr. Shamsheer Vayalil, PNC Menon, and Rizwan Sajan.
This is the amazing journey of a man who decided to carve his footprints in the sands of time… literally and figuratively. It was a tough expedition because land was hitherto an unexplored destination and the risks the lone ranger took were unprecedented. But like all great men, he threw the fear of failure to the winds and never gave up till he succeeded.
Finablr, financial services firm owned by Gulf-based billionaire B.R. Shetty, has acquired digital payments solutions provider TimesofMoney from Network International for an undisclosed sum. The company said that the deal would help it strengthen its presence within India’s fast-growing payments sector while helping it to use TimesofMoney’s technology to grow its footprint.
Dr. B. R. Shetty was a Key Speaker at the 2nd edition of The Economic Times India-UAE Strategic Conclave conducted yesterday, November 27, 2018 in Abu Dhabi. He shared his thoughts on the mutual ties between the nations and the path for future growth and development.
BRS Ventures and United Arab Emirates University (UAEU) yesterday signed a Memorandum of Understanding (MoU) to provide graduate placement opportunities. Deserving students graduating from UAEU will be given preferential placement at various entities held by BRS Ventures. Career advice, participation in careers fairs, practical exposure of working in the corporate world will be made available. Competent students will also get to spend 8 to 16 weeks as internship, at BRS Ventures companies.
Finablr, a financial services holding company created by Abu Dhabi-based billionaire B.R. Shetty, has secured a majority stake in Swych, a U.S. headquartered digital gift card platform. Although financial details of the deal were not disclosed, the move comes as part of a follow-on investment into Swych. It will join a portfolio of companies controlled by Finablr, which Shetty launched earlier this year to consolidate his financial services brands under one umbrella.
Dr. B. R. Shetty owned ADVOC (Abu Dhabi Vegetable Oil Company), today announced a partnership with India’s Patanjali Ayurved Limited to produce a range of edible oils for the middle eastern market. ADVOC, known for owning leading edible oil brands, will produce a range of sunflower, corn and canola oils for Patanjali Ayurved Limited under the Patanjali® brand name. The Patanjali® branded edible oil will be available in 750ml, 1.8 ltr and 5 ltr packages across the GCC region from November 2018.
Dr. B. R. Shetty at the Forbes Global CEO Conference in Bangkok, Thailand today. He was a panel member on a session titled ‘A Greater Good’. He shared his thoughts on the rationale and motivation behind philanthropy, corporate governance, and sustainability for companies to be able to give back to the society in an enhanced manner.
Abu-Dhabi based BRS Ventures Investment Limited, which has taken over Assam Company India Limited, the world’s first tea company, is confident of putting it back on track immediately by taking a series of measures.
The Kerala Chief Minister Pinarayi Vijayan is arriving in the capital on Wednesday on a four-day visit to the UAE to seek partnership of the Indian community in the reconstruction of the flood-hit Kerala. Vijayan will attend a series of events titled “Together with Kerala” in Abu Dhabi, Dubai and Sharjah. He will address businessmen in the capital at a dinner meeting organised by the Indian Business and Professional Group (IBPG) on Wednesday evening. “More than 200 prominent businessmen, including Indians and other nationals, will attend the event,” Dr B.R. Shetty, chairman of the IBPG, told Gulf News. The chief minister will present the investment opportunities for businesses in the reconstruction process at the meeting.
India’s leading drug maker Dr Reddy’s Laboratories has decided to sell its active pharmaceutical ingredients (APIs) manufacturing facility located in Hyderabad’s Jeedimetla in favour of Therapiva, an emerging generics pharmaceutical firm. Therapiva is a joint venture between Omnicare Drugs India, a wholly-owned subsidiary of Abu Dhabi based Neopharma LLC, and Laxai Life Sciences
The Guwahati bench of NCLT on Thursday approved the Rs 12.14 billion resolution plan of Abu Dhabi-based BRS Ventures for acquiring the stressed assets of Assam Company (India) Ltd, which was brought under the insolvency resolution process in October last year. Under this plan, which is nearly 3.5 times the liquidation value of Assam Company, the lenders will be taking a 20 per cent haircut over their total claims, including interest. However, the unsecured creditors will be receiving Rs 500 million and claims of operational creditors and the workers in the company have been addressed fully in the resolution plan.
The first Hindu temple coming up in Abu Dhabi has launched a website that facilitates contributions to support the temple’s construction. The website – www.mandir.ae – will allow people across the UAE and the world to follow the progress of this historic project and contribute to its construction.
The US subsidiary of Abu Dhabi-based Neopharma has acquired an antibiotic manufacturing facility and its related assets in Bristol, Tennessee. This was done through an ownership transfer from Dr. Reddy’s Laboratories, Inc. The facility will continue providing oral penicillin-containing antibacterial products to patients in the United States. Currently, Neopharma has five pharmaceutical manufacturing facilities in three continents that serve over 50 countries with 100 plus products. “The acquisition follows similar acquisitions made in Japan, Brazil and India and is a part of the global expansion drive for Neopharma, which is rapidly establishing itself as a global manufacturer of quality medications at affordable prices,” said Dr. B.R. Shetty, Chairman, Neopharma.
Neopharma Inc., USA, a subsidiary of Abu Dhabi based UAE' largest pharmaceutical manufacturer, Neopharma LLC, announced that in a 100 per cent ownership transfer, it has acquired from Dr. Reddy's Laboratories, Inc. a subsidiary of Dr. Reddy's Laboratories Ltd., which is an antibiotic manufacturing facility and its related assets in Bristol, Tennessee (US).